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The Voluntary Dissolution Of A Limited Liability Company - A Way Of Abusing The Law?

Author

Listed:
  • Andreea Stoican

    (Department of Law, Bucharest University of Economic Studies, Romania)

Abstract

Law 31/1990 on companies provides a series of cases that lead to the dissolution of a company either by the will of the associates, either by the decision of the court of law, either by law. As such, even though the cases in which the dissolution can operate by law - therefore imposed by the legal provisions - or through the decision of the court are clearly stated, not the same can be said for the dissolution of a company intervened by the decision of the partners. Due to a more general definition that the legislator gave to this legal means, it created, without anticipating at the moment of the drafting of the legal text, a method for the associates to breach certain legal provisions regarding the rights of their creditors. Therefore, the current study aims to draw the attention on a frequent practice operated by more and more merchants in their trade activity which leads to an impossibility for their creditors to have their debts recovered.

Suggested Citation

  • Andreea Stoican, 2020. "The Voluntary Dissolution Of A Limited Liability Company - A Way Of Abusing The Law?," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 9(1), pages 65-69, May.
    • Handle: RePEc:sja:journl:v:9:y:2020:i:1:p:65-69
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    References listed on IDEAS

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    1. Cornelia LEFTER & Ovidiu Ioan DUMITRU, 2011. "Dissolution of the Commercial Companies due to the Passing of Time Established as a Duration of the Company – Theoretical and Practical Aspects," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(11(564)), pages 59-66, November.
    2. Ovidiu Ioan Dumitru, 2017. "The European company, perspectives after Brexit," Juridical Tribune - Review of Comparative and International Law, Bucharest Academy of Economic Studies, vol. 7(2), pages 134-146, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Dumitru Ovidiu Ioan, 2021. "Transfer of seat within European Union. The latest developments on cross-border conversions, mergers and divisions of companies," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 917-929, December.

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    More about this item

    Keywords

    voluntary dissolution; breach of law; law enforcement; liquidation.;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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